Tax affects every area of our lives on a daily basis, whether you’re aware of it or not. Chances are you’ve not given much thought to working in an area that is at times controversial and often negatively categorised in people’s minds but a career in tax is vastly different to what most would expect. Read on to see if this sector might suit you, but if you find just reading this short article taxing, it’s probably best to give it a miss!
Tax is an area that is in a constant state of flux. With each new government, the whole election process usually focuses quite heavily on tax and being a part of that system is surely an exciting thing. How much tax we pay and what they plan on doing with it can win or lose the right to run a country! Tax is rarely out of the news and a source of much debate.
There are six major types of tax and most advisers specialise in one while obtaining a basic knowledge in all types of tax. The type of work you could end up doing varies hugely depending on your specialisation. Most advisers are either corporation tax specialists (people who deal with a business’ taxes) or personal tax specialists (people who deal with an individual’s taxes). There are also specialists in VAT, inheritance tax, stamp duties and capital gains tax.
There is a lot of variety and diversity to be found when working in tax, the ‘workplace’ could be almost anywhere!
Professionals currently working in the tax industry come from a wide range of backgrounds and modern recruitment practises are allowing for even more young people to join the profession directly through highly-regarded, structured school leaver programmes.
The tax profession can be very rewarding both financially and intellectually. It is an industry with a strong reputation for continuing professional development (CPD) – as tax constantly evolves and changes you are always challenged and have to review your advice and knowledge regularly.
You can make or break companies with your advice – the savings you make for them could mean that they can build, invest or create for a secure future. It is very much a people industry as much as it is numerical and legal.
Want to find out more about working in tax? Check out our article, Why work in tax?